SBI Ltd has made an interesting offer on loans for all first $-$ time buyers of a house having the following particulars:
Loan amount: Rs $1, 750, 000$
Rate of interest: $4.8 %$ per annum $($ Annualised Percentage Rate $)$
Maturity period: $24$ years
Calculate the monthly payment.

Question

SBI Ltd has made an interesting offer on loans for all first $-$ time buyers of a house having the following particulars:

Loan amount: Rs $1, 750, 000$

Rate of interest: $4.8 %$ per annum $($ Annualised Percentage Rate $)$

Maturity period: $24$ years

Calculate the monthly payment.

Accepted Answer

To calculate the monthly payment on the loan offered by SBI Ltd for firsttime homebuye...

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